Norway

Evaluating the market in Norway

We can help you get a better understanding of market activity, relationships and support to grow your business.

EDC Position

Open

What this means:

Actively pursuing business

All EDC solutions are available in this market, subject to regular approval criteria

How does EDC determine the position?

EDC takes the following into account when determining the position in a given market:

Government of Canada restrictions

Political, human rights and corruption risks

Other factors that may be taken into consideration are: size of the economy, diversification of the economy, risk of natural disasters

Risk Rating

Low Risk

What this means:

The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.

How does EDC determine the risk rating?

The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.

Business environment in Norway

Norway is a wealthy OECD country with a strong commercial relationship with Canada. The country enjoys a stable, healthy, modern economy with a strong political system. As with most modern economies trade is of high importance to Norway’s market and the potential for Canadian companies is high. EDC sees excellent business and investment potential across a wide range of sectors in the market. Priority sectors include oil and gas, cleantech, infrastructure and transportation. Norway is an advanced and open economy with abundant natural resources such as petroleum, hydropower, fish, forests and minerals. Supported by its abundant oil wealth, Norwegians enjoy one of the highest standards of living in the world. Norway ranks 11th out of 137 in the World Economic Forum’s Global Competitiveness Report, making it an attractive location for investment.